President Dvash Meets With Younger Members

January

2016

At a meeting held at the initiative of the IDE President, Yoram Dvash, representatives of the younger generation in Exchange raised new ideas in various sectors in order to lead the bourse forward and held a vigorous debate on future trends.

A meeting on the topic of innovation and future trends took place yesterday (Tuesday) in the management room with the participation of President Yoram Dvash, who initiated the meeting, IDE Managing Director Eli Avidar, and representatives of the younger generation of members of the exchange.

"The diamond exchange is you," said IDE President Yoram Dvash. "The idea behind this meeting is to enable younger members to raise ideas that will lead the Israel Diamond Exchange forward.

"I aim to bring about change and focus the bourse's efforts on a few key issues. Any ideas you offer are welcome and we will discuss them and try to get them into a realistic framework. We are currently formulating the budget for the year 2016, which is smaller than last year's budget, and we therefore want to focus efforts on issues that will promote the bourse from a business point of view," Dvash said.

During the meeting, representatives from the younger generation raised different ideas in the fields of business, law, technology, marketing, production, publicity and prices of rough diamonds among others.

Some participants asked to consolidate all diamantaires and goods from Israel under one online trading platform. Other participants emphasized the need for increasing generic advertising of diamonds.

Yoram Dvash referred to Israel's diamond production and allocating raw materials for small manufacturers.

"The modern manufacturing center that was opened last year, was established in order to manufacture diamonds of all sizes and address the burning issue of professional training of younger people. Last year, we also started a project for the supply of rough to small producers in cooperation with the Panford company, but we had to stop it because of the high prices. Once the prices of rough come down to a fair level that will allow manufacturers to make a profit, we will renew it."

He also said that the diamond exchange is also acting to develop "a new space at the exchange for outside companies to come to Israel to hold polished tenders."

Dvash concluded the meeting by saying, "You have the opportunity to express ideas and thoughts about matters that concern you directly to me as the IDE President.

"I see every one of you as a social leader and you have a great deal of power to change things, more than you know. Bring good ideas along and we will find the time and budget to implement them."